The Estonian government may allocate EUR 100mn to state-owned energy company Eesti Energia to speed up the construction of a new gas power plant in Narva, ERR reports. Also, the government is discussing the possible differentiation of renewable energy fees for companies and reducing network tariffs or changing electricity taxes for private consumers. The moves…
The Latvian parliament, the Saeima, has approved the state budget for 2025, LSM reports. The budget foresees revenues of EUR 18.4bn, while expenditure is planned at EUR 19.7bn. The estimated budget deficit will thus amount to EUR 1.3bn or 2.9% of the GDP. The key budget priorities are internal and external security and competitiveness. The…
Lithuania’s incoming centre-left government has revealed its draft programme for the next four years, LRT reports. The new coalition plans to focus on welfare, with more child benefits and better accessibility to health care and education. Also, the government may make changes to tax policy, moving towards progressive taxation. The new government plans to reverse…
The Latvian parliament, the Saeima, has passed in final reading a new tax on local credit institutions, LETA reports. Under the new law, credit institutions registered in Latvia and branches of foreign credit institutions will have to make quarterly solidarity contributions for the next three years. The tax will amount to 60% of their excess…
The finance committee of the Estonian parliament, the Riigikogu, has decided to cancel an additional 5% increase in the excise tax on alcohol that was planned for July 2025, ERR reports. Committee chairwoman Annely Akkermann said that the tax hike would have led to increased cross-border trade and grey market sales, thus reducing state budget…
Annual alcohol consumption in Estonia amounted to 11.2 litres of pure alcohol per capita in 2022, which was down from 14.8 litres in 2007, according to a report from the National Institute for Health Development (TAI), ERR reports. The report noted that alcohol consumption declined over 2012-2018, but began rising again in 2019 after a…
The Estonian government has dropped plans to impose a tax on sugary beverages, Prime Minister Kristen Michal announced, ERR reports. Health Minister Riina Sikkut said that she proposed withdrawing the proposal, noting that the coalition agreement only allowed new taxes to finance defence and security needs. Michal expressed hope that opinions on the matter would…
Estonian Prime Minister Kristen Michal has submitted his government’s draft state budget for 2025 and budget strategy for 2025-2028 to the country’s parliament, the Riigikogu, ERR reports. According to the Ministry of Finance, budget expenses and investments will increase by 3.8% to EUR 19.1bn and revenues by 5.2% to EUR 17.7bn in 2025, ERR reported….
The Latvian government plans to raise taxes on fuel, harmful beverages, tobacco, and gambling, LETA reports. Under the plan, the excise tax on fuel will amount to EUR 10 per tonne of CO2 in 2025 and to EUR 20 per tonne in 2026. The excise duty on sugary non-alcoholic beverages will rise from the current…
